The Top Easy Access Savings Discussion Area

SickGroove

So, my £1 test deposit into Gatehouse EA account which was sent around 1pm yesterday, had arrived when I checked first thing this morning.

It was also showing it was credited effective yesterday too 😁

friolento

SickGroove said:

So, my £1 test deposit into Gatehouse EA account which was sent around 1pm yesterday, had arrived when I checked first thing this morning.

It was also showing it was credited effective yesterday too 😁

 So I was wrong thinking they only process on business days. Apologies . Still quite glacial compared with the several true instant accounts. The 0.03% advantage doesn’t tempt me to move from Ulster but it’s good to have Gatehouse as a potential backstop in the event Ulster / Cahoot / Santander drop their rates. Gatehouse have a good track record for rates, and they are much easier to open than these three instant access ones.

tg99

Has anyone else stopped receiving notifications for posts on bookmarked threads? I’ve not received for any of mine since Friday and have not made any changes to my settings.

janusd

tg99 said:

Has anyone else stopped receiving notifications for posts on bookmarked threads? I’ve not received for any of mine since Friday and have not made any changes to my settings.

same here - but it's been mentioned in the feedback thread, so no doubt MSE are / will be aware of it.

SeriousHoax

Is the Gatehouse EA for existing customers & can someone post the link, please.

mebu60

SeriousHoax said:

Is the Gatehouse EA for existing customers & can someone post the link, please.

'currently under review' according to their website. 

Hopefully it reviews a tad upwards rather than the other direction! 

1spiral

SickGroove said:

So, my £1 test deposit into Gatehouse EA account which was sent around 1pm yesterday, had arrived when I checked first thing this morning.

It was also showing it was credited effective yesterday too 😁

They must have improved their service then. Their website still states "If you make a deposit before 1pm on a working day, funds will show on your account by close of business the same day. Deposits after 1pm, will show by close of business the following day.".

I wonder if they also process withdrawals at weekends too.

Edit: Just realised they state "close of business the following day" not "working day" which is what I assume they mean.

friolento

SeriousHoax said:

Is the Gatehouse EA for existing customers & can someone post the link, please.

I don't think there is a general link you can use for the application. You just need to log into online banking and apply from there.

Bigwheels1111

friolento said:

SeriousHoax said:

Is the Gatehouse EA for existing customers & can someone post the link, please.

I don't think there is a general link you can use for the application. You just need to log into online banking and apply from there.

Thats what I did late Friday night.

Made a payment there and then.

Account and payment were visable at 11.00am Saturday morning.

patpalloon

chris_the_bee said:

patpalloon said:

How much interest can you earn tax free if no other income? Is it personal allowance + personal savings allowance = £17,570? If you have an income the tax free bit is only £1000 ? Or can you earn up to £12,570 without any impact on your interest?

If you’re a basic rate taxpayer you have an allowance of £1,000 in interest earned before tax is due. If you’re a higher rate taxpayer, the Personal Savings Allowance (PSA) is £500. Additional rate taxpayers lose the PSA completely.

There’s a third level that’ll wipe out tax on interest, and this is for low earners. There’s effectively an extra £5,000 allowance for interest earned, though how much you’ll get depends on your salary.

To be eligible you need to earn less than £17,570 and the total amount is a little complex. For anyone earning under £12,570 you get the full £5,000 a year allowance.

Then for every £1 you earn over £12,570, the starting rate reduces by £1. So someone earning £15,570 a year would lose £3,000 from the allowance, giving them a total of £2,000 they could earn.

This is in addition to the PSA which would be worth the full £1,000.

https://www.gov.uk/apply-tax-free-interest-on-savings

Wow, thanks this is very useful. I currently earn about 14k in interest per year not in premium bonds which are exempt from tax. So I could earn up to the single tax allowance £12,570 which would be untaxed and I wouldn't pay any tax on my interest? Giving a total tax free income of £26,570?